Off the wire
• U.S. Senate majority leader says tax reform has to be "revenue-neutral"  • 5.5-magnitude earthquake jolts Kyrgyzstan  • Austrian lower house early election set for Oct. 15  • Vice premier stresses poverty relief through industrial development  • China's poverty relief benefits neighboring countries  • IMF can offer policy advice, financial support for Belt and Road Initiative  • Merkel, Macron agree to strengthen eurozone after first meeting  • Catalan radio station insists Valverde to be next Barca coach  • Pentagon reportedly preparing to arm Syrian Kurds with antitank weapons despite Turkey's opposition  • Xinhua Asia-Pacific news summary at 1600 GMT, May 16  
You are here: 　 Home

U.S. industrial production rises at fastest pace in over three years

Xinhua, May 16, 2017 Adjust font size:

U.S. industrial production in April rose at the fastest pace in more than three years, the Federal Reserve said Tuesday.

Industrial production, an indicator of manufacturing, mines and utilities output, rose 1 percent in April from the previous month, the fastest pace since February 2014, the Fed said. Economists had forecasted a 0.5 percent gain for industrial production last month.

The manufacturing output, the largest component of the overall industrial production, rose 1 percent in April, reversing its decline in the previous month. Meanwhile, mining output rose 1.2 percent and utilities output climbed 0.7 percent last month.

The upbeat industrial production in April might suggest a pickup of U.S. economic growth in the second quarter of the year.

The U.S. economy grew at an annual rate of 0.7 percent in the first quarter of this year, lower than the 2.1 percent growth in the previous quarter and the weakest performance in three years, according to the Commerce Department. Enditem